“Should I buy out my lease?” super-thread

[Jackpotduc]

Interested in this as well for my x7

Does that take you to 5 years and how much mileage?

How’d you approach the dealer to do this, or is it a common request?

Thanks.

[SteveB25]

Apparently unlimited mileage which isn’t a problem for me anyway since I only have 22k miles. I asked them for the option to see cost.

[max_g]

@SteveB25

except tax and dmv

Well, tax is a huge one-time expense. So decide how long you’re going to keep it to make that expense worthwhile.

Buy a Platinum BMW extended warranty based on that length of time. CPO is only Gold, with a lot more exceptions.

[SteveB25]

Right, tax is $2200. Platinum on the website is listed at $4400 seems like a ripoff for 1 extra year. I’m sure the dealer price could be less, haven’t checked yet.

Until a new m340, m440, c43, s5 can be leased under 700 effective, I don’t think I’ll get getting rid of it anytime soon. Not ready for electric.

[max_g]

Check the various bmw forums; you can do a lot better on a 2- or 3-year extension

[jeisensc]

@SteveB25

Do we think paying $1200 to CPO my m340 is worth it for an extra year of coverage?

I’d consider an extended warranty for a longer term, not that cost for 1 year.

BMW Extended Warranty

I am buying my leased X4. The dealer is offering me the extended warranty (which I am going to buy it but shopping around) for 3 years for an additional 30k miles warranty for $2744 (bumper to bumper) and a four year additional 30k miles for $2844. I found other places in the internet which can vary from $150-$200/mo for the same car. Coverage is similar. The BMW one seems to be a fantastic deal, so, wonder if others had a similar experience?

Warranty Hacker

Has anyone hacked an extended warranty to own a traditionally unreliable car for less than it would typically cost? For instance Doug Demuro bought his Range Rover from CarMax, opting to purchase $3k in max care warranty to protect it bumper to bumper. It ended up paying out close to the cars purchase price in repairs. Has anyone else had experience or success with similar products?

2020 BMW End of lease options for warranty

Hello all, looking for some guidance. Lease is up end of Feb 2023, and I’ve pretty much decided to keep my 2020 BMW X4 after casually looking and not feeling like spending the time to find a deal which seems like a needle in a haystack at the moment. Current: 2020 BMW X4 30i, Miles: 26K (leased as a loaner with 2K miles) Warranty: 4/50K good until 12/23 Lease PMT: $468,12K/36 months (Thanks to Hackrs 3 yrs ago). MSRP $62,490 Buyout: $34,543 + $2,174 tax. Was told by my local dealership th…

If you’re buying peace of mind, it won’t cover wear parts. I’d find the best/cheapest coverage for as long as I expect to actually own it, and keep in mind you’ll still have to pay for brakes and tires.

[firebrand]

Hi folks, my 2021 Volvo XC60 T6 lease is ending this month. The car has around 25k miles on it, and feels new. The contracted buyout value is ~$32.5k+taxes. On personal front, I will be looking at an overseas assignment around mid 2025, due to which I don’t want to get into a new lease. I can think of two options:

a) buy out Volvo and use it till I leave the country. I’ll probably need to replace tires and pay for annual maintenance etc, but I am okay with the costs and risk with an out of warranty vehicle for 1.5 years.
b) purchase a car that doesn’t depreciate much. I looked at Model Y but didn’t like the interiors.
c) lease a car for 24 months, but Europeans cars lease badly for that duration.

I’m leaning towards option a; anything I’m missing? Any other cars I should look at for options b or c?

TIA!!

[Leo_Levin]

If that overseas assignment if for military reasons, you can return the lease when you leave under SCRA. Look into it if it applies to you.

[max_g]

@firebrand

b) purchase a car that doesn’t depreciate much.

Model Y definitely doesn’t fit that description. If you wanted to go down that route your best bet would a Honda HRV, Toyota Camry, Subaru Crosstrek, etc etc.

[HersheySweet]

Corolla Cross maybe?

[max_g]

Honestly it could be any two box silhouette from ToyHonSubKiDai

[giveleaseplease]

Ironically none of those silhouettes appear to be Japanese

[max_g]

Maybe top right is a Korando

[Batistuta]

Middle right looks like the Jurassic Park ML on top but the bottom section looks funky.

[Proprio]

I have 21 White X3
Premium
Driving assist plus
Ventilated seats etc
Buy out is 31.5k
Should I buy or lease a new one with same features?
Thank you Hackrs!

[forbs]

What’s your current payment? What was MSRP?

[Proprio]

567 tax included and 59k.

[forbs]

Hmm…as a new one is about the same price right now, see how much Carvana, Carmax, Vroom THINK it’s worth (As you cannot sell a leased BMW to them)

[nyctolaws]

Have a 2020 BMW 840i GC in socal coming up next month with the following:

$98,000 msrp (msport, comfort, da, dapro, etc.)
Buyout $52,000 (tax is on $45,000 after $7,000 msd)
Lease was 0 DAS + 999/mo incl tax.

Only driven 16,000 miles (got a Harley for commute…) in 35 months and I really like the car because I’d always wanted a 6 GC before they replaced with an 8 and I think this is the best looking BMW in their current lineup. Also may be cool to own in the longer term an 8 series with ICE when everything goes hybrid/electric?

With the rate hikes, I don’t think I can find anything close to this in today’s market. Carvana/Vroom are only offering ~$48-49K but most of the used ones in similar specs are close to or higher than my buyout with a lot higher miles (30k+).

What do you guys think? Is it a bad idea to plunge ~$55k into a 3-4 year old BMW or ok with some extended warranty? Financing seems expensive too so wondering if I should just pay in full.

Other option I’m considering is leasing a new X5 (had one before this 8) but I will be getting less tech (options) and higher effective payment for sure.

[Batistuta]

So you have about $4k in equity? How much would a 2024 840i lease now for the sake of comparison? I don’t think it’s a bad idea to buy it.